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Dec 6, 2012
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bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after reagan appeared in that one debate against carter and people said, hey, he isn't so bad. i have a choice. >> one of the other players, besides the two candidates was bill clinton, the former president, don't think anybody made a better case of making the case for obama than bill clinton. at the convention a critical moment when he explained the arithmetic of what obama inherited. >> in tampa the republican argument against the president's re-election was pretty simple, pretty snappy. it went something like this. we left him a total mess. he hadn't cleaned it up fast
bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after...
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Dec 3, 2012
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there is an interesting coalition, if you will, of very conservative deficit hawks and very liberal deficit hawks, if you will, who might come together and say, you know what, let the country go off the cliff. lack at those five-year projections. isn't this about short term versus long term? what do you say and what do you think your members would say? >> the best thing is to do something our spending problem and barring anything else, doing the automatic cuts that congress promised last year when they raised the debt ceiling would be better than doing nothing. it's separate from the ougautomc tax increase that happens on january 1. our preferred strategy here would be to accept the sequester now knowing that congress is not going to do something more rational. they're not going to take on more fundamental spending reforms and push off increasing taxes. and let's have a ration conversation about fundamental tax reform in the first six months of next year. nothing congress does in this panic is going to be rational public policy regardless of ideology. >> isn't it fair to say no matter what,
there is an interesting coalition, if you will, of very conservative deficit hawks and very liberal deficit hawks, if you will, who might come together and say, you know what, let the country go off the cliff. lack at those five-year projections. isn't this about short term versus long term? what do you say and what do you think your members would say? >> the best thing is to do something our spending problem and barring anything else, doing the automatic cuts that congress promised last...
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Dec 5, 2012
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of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be bygones does not come naturally to him as a man, he is doing a convincing job as a president. getting the business community to be message multipliers and supporters of his on basic economic issues. it makes sense. what about accountability? and here's what i mean. the big business guys who really, really really wanted president mitt romney. they spent through the roof to get president mitt romney and they lost. they did not get a president romney. they still have a president obama. but now they're at the president obama white house almost every week meeting with president obama. and i unde t a i underst what ab the f all this face time with president. does t i we're tol elizabe mas sea committ them on board with his agenda, particularly for his side of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be b
of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be bygones does not come naturally to him as a man, he is doing a convincing job as a president. getting the business community to be message multipliers and supporters of his on basic economic issues. it makes sense. what about accountability? and here's what i mean. the big business guys who really, really really wanted...
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Dec 5, 2012
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they don't care about deficits. they care about flattening the tax code so lower income people pay more. >> that's the dirty little secret. thank you. i wish we had more time. we don't. >>> next, sheldon walking the corridors of congress? what? i wonder if $150 million buys you a key to the speaker's office. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local wa
they don't care about deficits. they care about flattening the tax code so lower income people pay more. >> that's the dirty little secret. thank you. i wish we had more time. we don't. >>> next, sheldon walking the corridors of congress? what? i wonder if $150 million buys you a key to the speaker's office. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin...
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Dec 5, 2012
12/12
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of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be bygones does not come naturally to him as a man, he is doing a convincing job as a president. getting the business community to be message multipliers and supporters of his on basic economic issues. it makes sense. what about accountability? and here's what i mean. the big business guys who really, really really wanted president mitt romney. they spent through the roof to
of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be bygones does not come naturally to him as a man, he is doing a convincing job as a president. getting the business community to be message multipliers and supporters of his on basic economic issues. it makes sense. what about accountability? and here's what i mean. the big business guys who really, really really wanted...
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Nov 30, 2012
11/12
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we deficit spend between $3 billion and $4 billion a day. now if the president wants to raise taxes on the wealthiest americans that's going to help hand al couple days, literally days, worth of our problem but how will we solve the overall thing. if we aren't going to tackle entitlements and not cut spending you will have trouble getting through the house of representatives because we're committed to those principles. we've got to tackle and make the difficult choices. >> what about his $400 billion in medicare? is your problem with it that it's not specified? do you want to see a more specific laundry list or do you have to produce a laundry list before he's going to come up with his? is this a giant game of chicken. >> >> that's what's unfortunate. that's what i think the parties should be sitting at a table, speaker boehner is on the absolute right track, shown a willingness to be able to talk about things that we haven't been able to talk about before and they need to sit down and hash this out. there's nothing like a deadline to drive
we deficit spend between $3 billion and $4 billion a day. now if the president wants to raise taxes on the wealthiest americans that's going to help hand al couple days, literally days, worth of our problem but how will we solve the overall thing. if we aren't going to tackle entitlements and not cut spending you will have trouble getting through the house of representatives because we're committed to those principles. we've got to tackle and make the difficult choices. >> what about his...
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Nov 29, 2012
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jobs went down, the deficit went up. we also know, reverend al, from the nonpartisan congressional office, that those tax breaks for the very wealthy people have virtually no impact on jobs and economic growth and that the proposals the president has made, both the middle class tax extension, plus his small business tax cut, taken together do a lot more than you would get in terms of job growth from providing the folks at the very top with this bonus tax break. so you've got to look at the president's entire plan, both the investment in our infrastructure as well as middle class tax relief and small business tax relief and that is the jobs plan for the future and no matter what republicans say, the reality is that at the end of the day they are looking out for the folks at the very top. we know from our own history. >> yeah. >> that history is bankrupt. >> and these are things we need. if you look at what hurricane did to new york and new jersey, we certainly need to work on the infrastructure. congressman chris van holl
jobs went down, the deficit went up. we also know, reverend al, from the nonpartisan congressional office, that those tax breaks for the very wealthy people have virtually no impact on jobs and economic growth and that the proposals the president has made, both the middle class tax extension, plus his small business tax cut, taken together do a lot more than you would get in terms of job growth from providing the folks at the very top with this bonus tax break. so you've got to look at the...
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Nov 30, 2012
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two summers ago, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. put it another way. if there was an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work required to protect ourselves from asteroids. >> see, that's one way of looking at it. yes. >>> halle berry's thanksgiving day drama seems to be winding down. progress has been made regarding the holiday fistfight between hallry berry's ex-boyfriend, gabriel aubry, and her current fiance. in a statement, berry's lawyer said she and aubrey have reached an amicable agreement. berry had a restraining order put into effect after that fight to keep aubrey from seeing their 4-year-old daughter. >>> so lindsay lohan, she's done it again, arrested thursday for allegedly punching a woman in the face in a new york ci
two summers ago, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. put it another way. if there was an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work required to...
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Dec 1, 2012
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this is largely part of, you know, his past budgets and past deficit reduction plans that he's talking about. so we've seen these sort of numbers and figures before from him. >> what about the talk of cutting the mortgage deductions. that's in the president's proposal, right? >> well, part of the mortgage tax deduction is through what the president is talking about, about capping itemized deductions for top income people. so he's not talking about cutting the mortgage interest deductions specifically. what he's saying is, if you're a wealthy person, making over a certain amount of money, you're not going to be able to take as many deductions as you had in the past, and so mortgage interest deduction is one of those things that would fall under that. >> do you think some of this is vague, though, nancy? because really neither side wants to own this. >> i think what we've seen this week is a lot of political posturing. the president basically put out an opening bid, which is something that we've seen before, and now what he's waiting for is saying, okay, republicans, you want to see some
this is largely part of, you know, his past budgets and past deficit reduction plans that he's talking about. so we've seen these sort of numbers and figures before from him. >> what about the talk of cutting the mortgage deductions. that's in the president's proposal, right? >> well, part of the mortgage tax deduction is through what the president is talking about, about capping itemized deductions for top income people. so he's not talking about cutting the mortgage interest...
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Dec 1, 2012
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in 2011 he and john boehner had a deficit deal on the table that a lot of democrats didn't like. right now he's gaining democratic support even more than at the campaign. this proposal democrats alike, there was a meeting on the hill about the proposal. democrats were delighted. you saw john boehner complaining about it. that's what the president wants because we're in the posturing stage in two weeks we'll be closer to actual where the real deal is stage. >> in your latest piece, dana, you write about how the gop if you have members that aren't following the party line they're getting purged. "when a lawmaker who has been part of house gop leadership floated a perfectly sensible notion this week the republicans should accept president obama's offer to extend tax cuts for the 98% of americans who earn less tha $250,000 a year, he was treated as if he'd been caught reading marx in the republican cloak room." >> this guy has a 92% conservative rating. they're now treating him like he's some sort of liberal just because he said don't hold 98% of americans hostage as some sort of neg
in 2011 he and john boehner had a deficit deal on the table that a lot of democrats didn't like. right now he's gaining democratic support even more than at the campaign. this proposal democrats alike, there was a meeting on the hill about the proposal. democrats were delighted. you saw john boehner complaining about it. that's what the president wants because we're in the posturing stage in two weeks we'll be closer to actual where the real deal is stage. >> in your latest piece, dana,...
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Dec 3, 2012
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so i think what the white house is signaling is that at a minimum, any deficit package has to include this immediate february and march debt ceiling that we're going to hit. >> is jack lew the current chief of staff and former budget director the top candidate to be treasury? what is your best guess? >> he appears to be the frontrunner from everything you see and read and hear and he is a -- i've known him a long time. he's an accomplished guy. he knows these issues perfectly. he has worked in the financial community and has a sense of that and vice versa. and so i think he would be a it terrific choice. >> we should say there are a couple other people who have been rumored to being vetted. roger altman, former treasury official, larry fink, be erskine bowles. this what is alan simpson, erskine bowles' partner in the deficit commission, had to say about that possibility last week on the show. >> he said he would be very pleased to do that. he shared that with me personally, as long as they move the treasury department to north carolina, to charlotte. i don't think -- >> he's worked so
so i think what the white house is signaling is that at a minimum, any deficit package has to include this immediate february and march debt ceiling that we're going to hit. >> is jack lew the current chief of staff and former budget director the top candidate to be treasury? what is your best guess? >> he appears to be the frontrunner from everything you see and read and hear and he is a -- i've known him a long time. he's an accomplished guy. he knows these issues perfectly. he...
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Dec 7, 2012
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it's actually too much deficit reduck sln too quickly in the wrong parts of the budget. you want a more thoughtful, thought out plan. on your point about the debt ceiling, we what we need is to have certainty, know where we're headed. not have multiple showdowns but the debt ceiling is only going to be increased significantly if it goes hand in hand with a big enough deal which has real changes in the budget. so the best thing we could do is put in place a balanced plan deals with all parts of the budget and really provides the kind of sense of security that households, small businesses, everybody needs to know so we can start planning for the economy and hopefully getting things growing back again. one of the things you see is that when your debt levels are as high as they are, in this country right now, that's a tamp on economic growth and can harm growth. that's the point we're at. we know that part of a growth strategy will have to be getting control of these deficits and debt and fix the debt as basically saying, we have to work this out and do it in a bipartisan wa
it's actually too much deficit reduck sln too quickly in the wrong parts of the budget. you want a more thoughtful, thought out plan. on your point about the debt ceiling, we what we need is to have certainty, know where we're headed. not have multiple showdowns but the debt ceiling is only going to be increased significantly if it goes hand in hand with a big enough deal which has real changes in the budget. so the best thing we could do is put in place a balanced plan deals with all parts of...
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Dec 6, 2012
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this is an administration that has 1 trillion plus deficits for each four years. >> one part of that that republicans have talked about, that 2%, and whether you're going to protect tax break force them. steve latourette said some people who call me, they're more worried about the fiscal cliff than about rates going up a couple of points. thomas rooney in your party, if there is truly entitlement reforms that's going to preserve social security and medicare for generations to come, it's going to be very difficult for me to oppose higher rates for the rich. what about that? >> and to mr. rooney's point, if in fact there were fundamental, significant reform of medicare, medicaid and social security so that we in fact save and strengthen and secure those programs, just like we did in our budget,those were included in the president's proposal, then that's something that we would talk about and very seriously consider because there's where we got to get. we got to get real solutions. the problem with the president's proposal is it's not a real solution, it's all politics. >> congressman t
this is an administration that has 1 trillion plus deficits for each four years. >> one part of that that republicans have talked about, that 2%, and whether you're going to protect tax break force them. steve latourette said some people who call me, they're more worried about the fiscal cliff than about rates going up a couple of points. thomas rooney in your party, if there is truly entitlement reforms that's going to preserve social security and medicare for generations to come, it's...
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Nov 29, 2012
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howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where there's really no plan. everything's broken down. nobody knows where anybody is. i think that could be pretty ugly in the markets. having said that, my own view is, that going over the fiscal cliff is only the second worst thing that can happen. the worst thing that can happen would be for congress to simply kick the can down the road on everything. >> that's exactly right. >> extend all the taxes, extend all the spending, let life go merrily on the way it is. we cannot let that happen. it is time to address the deficit. and if going over the
howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where...
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Dec 6, 2012
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then we get deficit reduction and it's a lot easier to do. i think the number is just enough, as i said, but it's still hard to get to. and it's going to require the business community coming in and saying to republicans in both the senate and the house, there's a lot of stuff in here we don't like, a lot of special interests won't like it, but the business community at large, particularly big business, saying this needs to get done and needs to get done before new year's eve. >> just do it. >> just do it. all right. >> all right. >> failure is not an option. >> it's not. it really isn't. >>> hillary clinton may insist she's leaving politics, but a new poll shows the majority of americans hoping she has a change of heart. the latest abc news/"washington post" poll shows 57% would vote for clinton in a 2016 presidential bid. 37% oppose of a potential campaign. clinton also has strong support in her home state of new york. in a siena college poll, 64% of new york voters say she should make a run, but new yorkers aren't as enthusiastic about the
then we get deficit reduction and it's a lot easier to do. i think the number is just enough, as i said, but it's still hard to get to. and it's going to require the business community coming in and saying to republicans in both the senate and the house, there's a lot of stuff in here we don't like, a lot of special interests won't like it, but the business community at large, particularly big business, saying this needs to get done and needs to get done before new year's eve. >> just do...
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Dec 5, 2012
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but you've got to be committed to some kind of real deficit reduction. and that's where, beyond the spending, being serious about entitlements, there's got to at least be some framework that says, look, we are going to reduce the size and the scope of government. and that's -- finding that pain point on both sides so it's not a lopsided deal will at least give republicans the room to argue, look, we can take this pain. we've won some concessions back, but we have to do this. >> that should be done in private and together. >> and again, though, the ratio between tax increases to spending cuts is a wide, wide gap. medicare and medicaid and social security together, taken with interest and the debt, that's consuming every dime that's coming into washington, d.c., right now. people talk about -- democrats have talked about for a decade, the bush tax cuts. they've driven up the national debt. fine. if that's the case, why is it that the president, as you've said earlier, is embracing 98% of the bush tax cuts? >> except that isn't true. >> of course it's not t
but you've got to be committed to some kind of real deficit reduction. and that's where, beyond the spending, being serious about entitlements, there's got to at least be some framework that says, look, we are going to reduce the size and the scope of government. and that's -- finding that pain point on both sides so it's not a lopsided deal will at least give republicans the room to argue, look, we can take this pain. we've won some concessions back, but we have to do this. >> that...
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Dec 4, 2012
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when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and my colleague congressman tim walls, filed a discharge petition today to take the bill that we have, that has already passed the senate, that grants certainty to the middle class, to take that bill up and make sure that we can extend the middle class tax breaks before the holidays where we can give -- that's what everyone agrees on. i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i can assure you, the president and democrats in congress, have consistently said, we're not going to do this -- there is no my way or the hi
when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and my colleague congressman tim walls, filed a discharge petition today to take the bill that we have, that has already passed the senate,...